Hungary’s budget posts EUR 627.6m surplus in July

Hungary’s cash-flow-based budget, excluding local councils, had a 255.7 billion forint (EUR 627.6m) surplus in July, the finance ministry confirmed in a second reading of data on Tuesday.

The budget deficit narrowed to 2,636.5 billion forints, 83.6 percent of the full-year target, from the end of June.

The central budget deficit reached 2,729.5 billion forints at the end of July. The social security funds were 125.8 billion forints in the red, while the separate state funds had a surplus of 218.8 billion forints.

The ministry said revenues were 22.6 percent higher in January-July than in the base period, while expenditures were up 25.3 percent.